June2016 - Chase[ing] the Dream

TheMReport — News and strategies for the evolving mortgage marketplace.

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12 | TH E M R EP O RT FROM THE SOURCE Knowledge WHY LIA? The Largest Provider of E&O Insurance to AMCs in the U.S. SINCE 1977 POLICIES SPECIFICALLY DESIGNED FOR AMCS COMPETITIVELY PRICED COVERAGE NATIONWIDE COVERAGE WITH "A" RATED COMPANIES STATE AMC BONDS WITH NO ADDED FEES Contact Susan Lomeli Ph: (800) 334-0652 X 139 Fax: (805) 962-0652 CA License #0764257 Administrators & Insurance Services LIA_AMC_Print_Ad_Knowledge_2.2917x9.125.indd 1 2/11/15 7:18 PM SHARE THIS: BANK OF AMERICA'S INAUGURAL "HOMEBUYER INSIGHTS" REPORT Bank of America released its first "Homebuyers Insights" report, which dives into the behaviors and buying habits of first-time buyers and millennials. As this cohort of buyers emerges in the market, it's important to understand their needs and wants when purchasing a home. The report features detailed graphics that examine the thought process of new, young entrants into the market and also dives into some of the financial challenges that new homebuyers face and how they can overcome them. READ THIS: MAKERS AND TAKERS: THE RISE OF FINANCE AND THE FALL OF AMERICAN BUSINESS By: Rana Foroohar Assistant Managing Editor of Time magazine Rana Foroohar uses her years of reporting on Wall Street and in Washington, D.C., to produce a study on the "financialization of America." Examining the eight years since the market meltdown, she looks into the widening gap between the rich and poor, the reign of Wall Street, and its threat to the American Dream. She also delves into the "too big to fail" theory and the deeper problems facing our economy today. WATCH THIS: OVERVIEW OF THE NATIONAL HOUSING TRUST FUND HUD recently announced it would allocate nearly $174 million to states through the National Housing Trust Fund (NHTF) in order to address the ongoing affordable housing crisis in America. The NHTF is a new affordable housing production program that complements existing programs with the intent of preserving and increasing the nation's supply of affordable rental housing for low income households, according to HUD. Contributions by Fannie Mae and Freddie Mac will capitalize the NHTF, and HUD will administer the fund. To watch the announcement, visit HUD's YouTube Channel. TWEET THIS: #FORCEDARBITRATION After the Consumer Finance Protection Bureau (CFPB) announced proposed rules that would prohibit mandatory arbitration clauses that deny groups of consumers their day in court, lawmakers, lenders, consum - ers, and others in the mortgage industry took to Twitter to both applaud the CFPB and express grievances concerning the rule. The CFPB's proposed rule would stop lenders from including clauses that prohibit borrowers and bank account holders from filing or joining class action lawsuits in their contracts.

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